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Lebanon and Jordan: Enclaves of Capitalism

In: The Economies of the Middle East

Author

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  • Rodney Wilson

Abstract

These two small countries have been left to the end of this study of the economies of the Middle East. This is not because their limited size makes them any less significant, but rather is due to the fact that both their economies are very dependent on the economic health of the other countries already covered. Lebanese commerce and banking served the whole Middle East, and only a small portion of its business was generated internally. Similarly the Hashemite Kingdom of Jordan was, and is, dependent on financial support from the oil-rich monarchies and shiekhdoms to the south, to cover both its budget deficit and its balance of payments. A knowledge of the Middle Eastern neighbours of both states therefore helps the reader understand the forces underlying Lebanese and Jordanian development, as well as the economic constraints.

Suggested Citation

  • Rodney Wilson, 1979. "Lebanon and Jordan: Enclaves of Capitalism," Palgrave Macmillan Books, in: The Economies of the Middle East, chapter 10, pages 152-166, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03421-5_10
    DOI: 10.1007/978-1-349-03421-5_10
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